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Cenkos pre-tax profits fall

By BFN News | 08:43 AM | Tuesday 22 September, 2015


Cenkos Securities' pre-tax profits fell 21% to £18.6m in the six months to the end of June. Revenues were down 19% at £53.1m but the interim dividend is maintained at 7.0p per share. Chief executive Jim Durkin said: "Our successful strategy of being a leading UK institutional broker to growth companies and investment funds has led to us being profitable in every year since our formation in 2005. This approach continues to bear fruit and I am pleased to report a strong performance for the first six months of 2015, with profits before tax of £18.6 million. Given the overall results, the board has declared an interim dividend of 7p per share, in line with what was paid last year. The Board plans to launch a tender offer as soon as is practicable to return £8.0 million of surplus capital to shareholders. "We have made a good start to the second half of the year. There continues to be institutional demand to fund high quality companies and ideas. Since July we have been engaged in relation to a number of significant fundraisings and our current pipeline is encouraging." At 8:43am: (LON:CNKS) Cenkos Securities PLC share price was +10p at 177.5p Story provided by StockMarketWire.com

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